The developers of bridging platform Ren protocol have warned users to unwrap their tokens and bridge them back to their native chains “ASAP,” or risk losing them, according to a Twitter thread from the team. 1) Important notice ⚠️ As announced previously, the Ren 1.0 network is shutting down due to the events surrounding Alameda As compatibility between Ren 1.0…
Web3 investment firm Paradigm has released a Rust implementation of Ethereum, according to a Dec. 7 announcement from the company’s chief technology office, Georgios Konstantopoulos. The new software, called “Reth,” allows Ethereum validators to launch their nodes using Rust instead of Go, Java, or other languages. A previous Rust implementation had been released by Erigon in June, but the Erigon…
In brief OpenSea has announced various changes to its enforcement of creator royalties following complaints from some creators and builders. The firm has extended the deadline by which creators of new NFT projects will need to use its tool to have royalties fully enforced, along with other changes. Leading NFT marketplace OpenSea recently took action on royalty fees, releasing a…
After discovering that ten holding firms associated with FTX Digital and Alameda Research invested roughly $5.4 billion into nearly 500 firms and projects, people have been curious about a few specific investments. One specific investment made by FTX Ventures Ltd. was for $25 million into the Ohio-based firm 80 Acres, a company that specializes in vertical farming. It seems that…
The crypto markets have been in decline since the start of the second quarter of 2022. Each time it seemed like the apparent crypto winter would experience a minor thaw, another notable collapse happened: Celsius, Three Arrows Capital, and more recently, FTX. Approaching the end of 2022, it appears that the same negative sentiments are likely to remain. While some…
The parents of disgraced former FTX CEO Sam Bankman-Fried will no longer be teaching at Stanford next year, The San Francisco Standard has reported. Joseph Bankman, who has been teaching at Stanford Law School since 1988, will no longer be teaching a class at the university this winter. He had been previously scheduled to teach a first-year law course on…
The total cryptocurrency market capitalization dropped 1.5% in the past seven days to rest at $840 billion. The slightly negative movement did not break the ascending channel initiated on Nov. 12, although the overall sentiment remains bearish and year-to-date losses amount to 64%. Total crypto market cap in USD, 12-hour. Source: TradingView Bitcoin (BTC) price dropped 0.8% on the week,…
Following BlockFi’s Chapter 11 bankruptcy filing at the United States Bankruptcy Court for the District of New Jersey, reports have surfaced about the crypto lending company’s risk assessment and management culture. According to Forbes, as early as 2020, the company culture discouraged employees from “describing risks in written internal communications to avoid liability, “ as reported by a former employee…
U.S. lawmakers have penned a letter pressing Federal Reserve Chairman Jerome Powell for information on American banks’ ties to crypto following the collapse of FTX. In a Wednesday letter, Democrat senators Elizabeth Warren of Massachusetts and Tina Smith of Minnesota asked Powell how his agency “assesses the risks to banks and the banking system” after it was made clear “crypto…
According to a discussion at the 151st Ethereum Core Developers Meeting on Dec. 8, core programmers set a tentative deadline of March 2023 for the Shanghai hard fork. In addition, developers will aim for May or June 2023 to launch Ethereum Improvement Protocol (EIP) 4844 upgrade that will introduce proto-danksharding to the network. Although the much-anticipated proof-of-stake Merge upgrade was…
